Goldman Sachs (GS) announces new $30B buyback, equal to a quarter of market cap

February 24, 2023 9:52 AM EST

Goldman Sachs (NYSE: GS) disclosed in its 10-K filed Friday that its board approved a new share repurchase program, authorizing repurchases of up to $30 billion of its common stock.

The new buyback plan is equal to about a quarter of the company's entire $120 billion market cap.

The investment bank said the new plan replaces an existing share repurchase program.

Further, the company said the repurchase program is effected primarily through regular open-market purchases. The amounts and timing of which are determined primarily by the company's current and projected capital position, and may also be influenced by general market conditions and the prevailing price and trading volumes of its common stock.

Goldman's new repurchase program has no set expiration or termination date.

By Staff

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